ICICI Bank Performance Review-Quarter ended December 31, 2009

Capital adequacy

The Bank’s capital adequacy at December 31, 2009 as per Reserve Bank
of India’s Basel II norms was 19.4% and Tier-1 capital adequacy was
14.2%, well above RBI’s requirement of total capital adequacy of 9.0%
and Tier-1 capital adequacy of 6.0%.

Asset quality

Net non-performing assets decreased to Rs. 4,416 crore (US$ 949 million)
at December 31, 2009 from Rs. 4,558 crore (US$ 980 million) at
September 30, 2009. At December 31, 2009, the Bank’s net nonperforming
asset ratio was at the same level as September 30, 2009 at
2.19%.

Consolidated profits

Overseas banking subsidiaries

ICICI Bank Canada’s profit after tax for Q3-2010 was CAD 4.8 million. ICICI
Bank Canada’s capital position continued to be strong with a capital
adequacy ratio of 23.5% at December 31, 2009. ICICI Bank UK’s profit
after tax for Q3-2010 was USD 7.3 million. ICICI Bank UK’s capital position
continued to be strong with a capital adequacy ratio of 17.0% at
December 31, 2009.

Insurance subsidiaries

ICICI Prudential Life Insurance Company (ICICI Life) maintained its position
as the largest private sector life insurer based on retail new business
weighted received premium during 9M-2010. ICICI Life’s new business
annualised premium equivalent (APE) increased by 49% to Rs. 1,495
crore (US$ 321 million) in Q3-2010 from Rs. 1,002 crore (US$ 215 million)
in Q3-2009. Renewal premium in Q3-2010 increased by 20% compared to
Q3-2009, reflecting the long term sustainability of the business. ICICI Life’s
unaudited New Business Profit (NBP) increased by 48% to Rs. 282 crore
(US$ 61 million) in Q3-2010 from Rs. 190 crore (US$ 41 million) in Q3-
2009. Assets held increased 89% to Rs. 53,619 crore (US$ 11.5 billion) at
December 31, 2009 from Rs. 28,445 crore (US$ 6.1 billion) at December
31, 2008.